All eyes on Nigeria as Oil price drops to #12,000 per barrel

– Oil merchants, after experiencing a massive fall in the price of oil to almost $81 per barrel are looking to see if there would be an adverse effect on crude production in Nigeria as a result of Shell. Nigerian output of Bonny Light crude has fallen by about 100,000 barrels per day (bpd) to between 210,000 and 220,000 bpd after a damaged pipeline led Shell to declare a forceful closure of their refinery.